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- The GBP/USD is again trading below the MA 200 H1
The GBP/USD is again trading below the MA 200 H1
On Friday, the GBP/USD traded in different directions in the range of $1.3040-75 and closed the day without significant changes. Today it fell down to $1.3030. On the hourly chart, the GBP/USD is again trading below the MA (200) H1 moving average line ($1.3055). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the GBP/USD remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: $1.3075-80, $1.3145, $1.3165
Support levels are at: $1.2975-90, $1.2900, $1.2800
Probably, the main scenario is a continuation of the recent decline to the level of $1.2990 (low of the US session on Apr 13).
An alternative scenario is fixing above the MA 200 H1 level, followed by a rise to $1.3220 (Mar 25 high).
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